Abang Johari: The national bank has approved Sarawak government's shareholding in Bank of E Asia to 30%

The stock price soared 6.62% in morning trading, reaching a peak of 3.11 ringgit, an increase of 8.36%. However, subsequent profit-taking by investors reduced the gains, but it still maintained an increase of around 4%.

As early as last week, multiple media outlets reported that the Prime Minister of Sarawak, Datuk Patinggi Abang Johari, stated that the national bank has approved the Sarawak government's acquisition of the majority shareholding of Affin Bank.

Meanwhile, The Borneo Post and Utusan Borneo reported that the official announcement of the acquisition will be made today.

According to reports, Abang Johari confirmed at a longhouse centenary celebration that all necessary procedures, including those involving the central bank, have been completed. He emphasized that the reason for not announcing it earlier was to prevent potential stock market speculation. 'All procedures related to the central bank have been satisfied, and the Sarawak government is about to own its own bank.'

In July, Abang Johari pointed out that the national bank conditionally approved the Sarawak government's acquisition of Affin Bank from the Armed Forces Fund Board (LTAT), increasing its shareholding to 30%.

Currently, the Sarawak government owns 4.95% of Affin Bank's shares, while LTAT holds 28.8% equity.

In addition, LTAT's wholly-owned subsidiary MTD ACPI Engineering holds approximately 20% of the shares.

The second largest shareholder is Bank of East Asia Limited, based in Hong Kong, holding 23.93% of the shares.